808 11th Ave. midfield, AL 35228
Completely updated and move in ready! Brand new hvac system, flooring, appliances, light fixtures and plumbing fixtures! Washer and dryer hookup available. Wood burning fireplace and nestled on a quiet street. Rear parking available, nice sized yard.
Midfield sits along Interstate 20 in the suburbs of Birmingham. Nestled just eight miles southwest of Downtown Birmingham, Midfield is the perfect small town for renters and commuters. The affordable apartments and houses are a major benefit to renters as well. Along with renter and commuter benefits, Midfield is home to Western Hills Mall and surrounding shopping centers, home to specialty shops, convenience stores, services, and casual restaurants. Midfield offers good public schools, abundant churches, small businesses, and proximity to major attractions like the Birmingham Zoo, Vulcan Park and Museum, the University of Alabama at Birmingham, and the Birmingham Museum of Art.
The numbers behind the deal:
- The was bought for $33,700 on Dec-2020
- It took us 3 months to renovate the house
- Renovation cost - $27,400
- The house was rented for 9 months for $950/mon,
- Bringing a gross return of around 18% per year
- Sold in Dec 2021 (to the tenant renting the hose) for $89.900
- Over all profit = $37,350 (89900-33700-27400+9x950)
- Overall cash/cash = 61% in one year (37350/(27400+33700))
